Switzerland: Jowa's Acquisition of a 75% Stake in L'Alsacienne de Pates Menageres Aborted

29 December 2009 - Migros-owned Swiss baker Jowa's acquisition of a 75% stake in L'Alsacienne de Pâtes Ménagères (APM), a French manufacturer of ready-to-use doughs, will not take place, the company said today.

The deal, which was supposed to take place on 1 January 2010, was aborted due to "a divergence in opinions concerning the future" of the bakery firm, said Jowa.

Jowa and L'Alsacienne de Pâtes Ménagères, however, did not rule out a strictly commercial collaboration instead.

Jowa has 8 bakeries in Switzerland, 2 pasta factories, a durum wheat mill in Wildegg/AG, 2 bakeries outside Switzerland and a total of 72 in-house bakeries all over Switzerland. The company has a workforce of 3,223.

APM has two production sites located in the Strasbourg region and has an annual production capacity of 40,000 tons.

Source: www.flex-news-food.com

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